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Jobless Claims Rise Slightly

WASHINGTON (Reuters) — The number of Americans filing new claims for unemployment benefits rose last week, the Labor Department said on Thursday, but details of the report suggested that the jobs market was continuing to grow at a moderate pace.

Other data suggested that the economy remained on a steady growth path, with sales at wholesalers rising by the most in more than 18 months in November, keeping inventories balanced.

Initial claims for state jobless benefits increased 4,000 to a seasonally adjusted 371,000. The prior week’s figure was revised to show 5,000 fewer applications than previously reported.

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The New York Times

“Jobless claims data continue to suggest steady but modest U.S. employment gains,” said Robert Kavcic, a senior economist at BMO Capital Markets.

The four-week moving average for new claims, a better measure of labor market trends, increased 6,750 to 365,750, still at a level consistent with steady job gains.